Springfield foreclosures drop

The Springfield foreclosure rate fell 0.17 percentage points in October to land at 0.46 percent.

That’s compared to 0.63 percent in October 2013, according to the latest data from real estate market tracker CoreLogic.

The Missouri foreclosure rate - measuring the percentage of mortgage loans in some stage of the foreclosure process - went down to 0.62 percent from 0.83 percent in October 2013, and the U.S. rate dropped to 1.52 percent from 2.21 percent, according to a news release.

Springfield’s mortgage delinquency rate - a precursor of foreclosures representing mortgage loans delinquent by at least 90 days - dropped to 2.03 percent from 2.45 percent a year earlier. The Missouri rate decreased to 3.01 percent in October from 3.48 percent, while the national rate fell to 4.11 percent from 5.16 percent.

Springfield’s 90-plus day delinquency rate in October was the lowest for the year. Its foreclosure rate was the second lowest of the year - July was 0.45 percent, according to the release.